Making the convenience for payment process can help improve customers’ experience which is the most important key for e-commerce websites. Therefore, the store owners need to find the best-optimized payment solution to avoid risks for both checkout and refund process. The suitable solution is adding the virtual credit of your store to customers.
1. The Limitation of “payment and refund functionalities” in default Magento 2
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In Magento 2 Community, the default provides us with various payment methods that use different payment processors like Paypal, Credit Card Processing for Merchants to accept payments online and more. However, if you look for an option that allows customers to hold their credit in-store and apply to purchase products, the default Magento 2 Community can’t meet your requirement. Moreover, using default payment methods could make some risks for store owners such as have to pay the transaction fee when the refund for customers and so on
2. The Essential Tool to Add Magento Store Credit Payment Method
Magento 2 Store Credit is an extension that can help you solve the limitation of default easily. With the help of this module, store owners can restore the amount of refund to customers’ store credit when creating credit memos and customers can earn or buy virtual credit to keep in their account where it can be applied to future purchases. By installing store credit functionality, you will get an opportunity to effectively reward customer loyalty.
3. How does Store Credit for Magento 2 Extension Works?
Let’s see how Magento 2 Store Credit extension benefits your customers
- Get a personal store credit account
- Conveniently buy and earn store credit
- Be able to use store credit to buy products by applying it to the shopping cart or checkout page
This module adds a field to the shopping cart and checkout page for customers to apply for their store credit and pays for orders. In case the purchaser submits the store credit amount which is greater than the order total, he will not need to select a payment method in the next step. It means that store credit becomes a new payment method.
- Easily check credit balance and store credit transaction history
All the information of store credit balance and transactions is displayed for customers on a separate tab in their account pages.
- Be alerted by emails when storing credit balance changes
For admins, you can freely configure store credit function in the backend
- Charge and manage store credit of each customer
Store owners can add the unlimited store credit amount with a short message for any customer account at ease. Because of this function, you can allow your customers to buy store credit or treat them to special events.
- Conveniently refund to customers’ store credit
- Set up to send customers to store credit transaction emails
- Determine how customers can use their store credit for
Magento 2 Store Credit extension is also outstanding for the flexible configuration. The admin can enable the application field for store credit either on the shopping cart or checkout page, allow or restrict customers to spend their store credit on tax and shipping fee
- Keep track all store credit modifications in a grid
- Be able to analyze store credit report by a chart
4. Conclusion
The success of your business depends on your customers, so all store owners nowadays are trying to impress new purchasers, earn customer loyalty. And Magento 2 Store Credit extension was developed to help you win loyal customers effectively.
